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CEEMEA FX Price Signal Summary: USDTRY Uptrend Remains Intact

EMERGING MARKETS
  • EURHUF continues to trade closer to its recent highs and the short-term outlook remains bullish. Recent gains have defined a key short-term support at 391.55, Aug 12 low. Attention is on key resistance at 416.89, the Jul 7 high. A breach of this hurdle would confirm a resumption of the primary uptrend. Sub 391.55 levels would threaten the trend. Initial support is at 404.77, the 20-day EMA.
  • EURPLN attention is on the first important resistance at 4.8088, the Jul 27 high. A break of this level would strengthen the case for bulls and expose 4.8515, the Jul 12 high. Key short-term support has been defined at 4.6528, the Aug 15 low. A move below this level would be bearish. The 50-day EMA at 4.7193, is initial support.
  • USDZAR short-term conditions remain bullish following the latest recovery and bounce from 16.1104, the Aug 11 low. A continuation higher would open 17.3060, the Jul 14 high and a bull trigger. Key support lies at the trendline drawn from the Apr 13 low - it intersects at 16.1900. Initial firm support lies at 16.5579, the 50-day EMA.
  • USDTRY is unchanged but trend conditions remain bullish, following the recent clearance of the 18.00 handle. The continued appreciation signals scope for a climb towards 18.3633, the Dec 20 2021 high and a key resistance. The 20-day EMA, at 17.9957, is the initial firm support to watch.
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